Kimberly-Clark Corporation (NASDAQ: KMB) has announced the completion of its acquisition of Kenvue Inc. The transaction, previously agreed upon on November 2, 2025, closed on November 2, 2026. Under the terms of the Merger Agreement, Kenvue shareholders received $3.50 in cash and 0.14625 shares of Kimberly-Clark common stock for each share of Kenvue held.
Following the merger, Kimberly-Clark issued approximately 281,060,840 shares of its common stock in connection with the transaction. The combined entity now operates with four business segments: North America, Asia Pacific Focus Markets, Europe, Middle East, and Africa (EMEA), and Enterprise Markets. The portfolio includes 10 billion-dollar brands, such as Huggies, Listerine, Cottonelle, Neutrogena, Depend, Tylenol, Kleenex, Johnson's Baby, Kotex, and Scott.
The company has approved the Kenvue Integration Program, which is expected to result in cumulative pre-tax charges of approximately $3.1 billion over the period from November 2, 2026, to December 31, 2029. These charges are anticipated to be $2.5 billion in cash and $0.6 billion in non-cash costs, primarily related to supply chain network optimization and technology integration. Additionally, the company expects to spend approximately $1.4 billion in capital related to the program during this timeframe.
In terms of governance, three Kenvue board members—Richard E. Allison, Jr., Larry J. Merlo, and Kirk L. Perry—have been appointed to the Kimberly-Clark Board of Directors. Concurrently, Mae C. Jemison, Christa S. Quarles, and Jaime Ramirez resigned from the Board to create vacancies for the new appointees. The company has also amended its 2021 Equity Participation Plan to facilitate the issuance of awards under the plan following the acquisition.
